Turbocharging Employee Engagement

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Information about Turbocharging Employee Engagement
Business & Mgmt

Published on November 12, 2013

Author: OCTannerCompany

Source: slideshare.net

turbocharging employee engagement A Towers Watson Case Study

a successful business is like a powerful sports car

it moves quickly

turns nimbly

and handles curves without losing momentum

but sometimes a business, like a car, will hit a speed bump

go into a ditch

or run out of gas E FUEL F

regardless of the driving conditions, both perform best when they have strong engines

for a Ferrari, the power comes from a 500 horsepower, V12 engine -6

in a corporation, the engine is employee engagement

employee engagement refers to the broad & trusting connections people have with an organization

an engaged workforce gives an organization the power it needs to climb the hill to prosperity

and to make that climb FASTER than the competition

companies with a highly engaged employee population have significantly better financial performance... 3% 5% 3% 7% 1% 9% 5% 1% 6% 7% 5.75% 3.44% difference in operating margins difference in net profit margins ...than those with low engagement

they also produced shareholder returns 9.3% higher than the returns for the S&P 500 Index from 2002 - 2006

we found that employee engagement rises when people experience a combination of... ...effective and caring leadership

appealing development opportunities,

interesting work,

supported by tangible and intangible rewards

the Towers Watson research uncovered two elements that have a particularly strong influence

1 senior management’s sincere interest in employee well-being

the opportunity an employee has for personal development of skills and abilities 2

manager-delivered recognition of employee performance boosts engagement the way a turbo charger cranks up a sports car’s horsepower

recognition from the immediate manager can give a powerful lift to the two principal engagement drivers: opportunity and well-being

recognition from the manager boosts employee engagement an average of 38%

departments and work groups, of course, are the supervisor’s home turf, the place where he or she has the greatest impact as a leader and as a source of appreciation

these are the venues where a pat on the back,

thank you! a sincere word of praise in front of the team

and the presentation of an commendation award has great power to increase employee engagement

most organizations have recognition programs or other mechanisms that managers can use to show appreciation for high performance

failure results not from the lack of recognition methods, but from the execution of the manager

effective recognition from managers, encompasses three basic requirements

1 inclusiveness 2 3 communication trust

only 56% of survey respondents agreed their immediate managers recognize & appreciate great work

manager’s need to improve their recognition practices of INCLUSIVENESS I frequently receive recognition at work 59 36% everyone has the opportunity to be recognized at my organization 47% percent responding favorably

manager’s need to improve their recognition practices of COMMUNICATION my immediate supervisor communicates openly 59% my immediate supervisor encourages me to suggest new ideas and methods for doing things 56% percent responding favorably

manager’s need to improve their recognition practices of TRUST I trust my immediate supervisor 58% management trusts the judgement of people at my level in my organization 53% percent responding favorably

clearly there is room for improvement

with the right tools and training managers have the ability to impact employee engagement significantly

companies with higher engaged employees generate more marketplace power than their competitors

APPRECIATE GREAT WORK 2010 Towers Watson, The Power of Recognition From Managers: The Engagement Engine

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